Brokerages Set TC Energy Co. (NYSE:TRP) Target Price at $62.00

TC Energy Co. (NYSE:TRP) (TSE:TRP) has received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $62.00.

Several analysts have commented on the company. CIBC upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Cibc World Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Wall Street Zen cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup assumed coverage on TC Energy in a report on Friday, April 4th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada lifted their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th.

Institutional Trading of TC Energy

Several large investors have recently bought and sold shares of TRP. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy during the first quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $31,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $41,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of TC Energy during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 1.0%

Shares of TRP stock opened at $49.54 on Friday. The firm has a 50-day moving average price of $49.44 and a 200 day moving average price of $47.70. TC Energy has a twelve month low of $37.07 and a twelve month high of $51.99. The company has a market capitalization of $51.50 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 4.34 and a beta of 0.78. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the firm posted $1.02 EPS. Research analysts forecast that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is 81.52%.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.